Just like a house needs a good foundation, a finance system needs the right technology foundation—one that can support the need for data and insights across the organization and easily adapt to continuous change. Most finance systems were built on legacy architectures that were not designed for the pace and analytical demands of today’s businesses.
At Workday, we took an entirely different approach to building Workday Financial Management with the intent to solve problems that finance has been dealing with for decades. In this video, Betsy Bland, vice president of financial management products at Workday, explains several of the innovative technologies that Workday was built upon, such as an object data model and in-memory architecture, and how they give finance teams a distinct advantage—especially in areas such as analytics, consolidation and close, change and growth, and auditing and internal controls.
In This Video
The Right Foundation for Finance
History of Finance Systems
Workday’s Approach to Building Workday Financial Management
Replacing Inflexible Code Block with Object Data Model
Removing Batch Processing with In-Memory Architecture
The Workday Business Process Framework